Stabenow, Boozman comment on CFTC bill, nominations
|Senate Agriculture Committee Chairwoman Debbie Stabenow, D-Mich., told The Hagstrom Report on Tuesday that there will not be enough time this calendar year to pass the cryptocurrency bill that she and others have written to give the Commodity Futures Trading Commission jurisdiction over that market.|
The issue has become a matter of national interest following the collapse of the FTX cryptocurrency exchange, which was unregulated.Speaking on the sidelines of a Senate Agriculture Committee hearing Tuesday, Stabenow said the cryptocurrency bill is “definitely a priority” and that the committee “will definitely take action next year.” Sen. John Boozman, R-Ark., ranking member on the committee, told The Hagstrom Report that he agrees with Stabenow’s statements.
Stabenow was on the way to the Senate floor for a vote and said she would be talking to senators on the floor about removing the holds they have placed on President Biden’s nominees for Agriculture Department officials. Boozman said that senators who have put holds on nominees have so far refused to remove them and that he is encouraging Senate leadership to bring up the nominees for floor votes. With holds on the nominations, that process would take more time than the usual floor votes on nominees.
Many agricultural groups are lobbying the Senate to confirm the nomination of Alexis Taylor to be Agriculture undersecretary for trade and foreign agricultural affairs and the nomination of Doug McKalip to be chief agricultural negotiator in the Office of the U.S. Trade Representative.
–The Hagstrom Report